Tabcorp to increase investment in Queensland Casinos

Tabcorp Holdings has said it will now triple its Casino investments in two new hotels in Brisbane and the Gold Coast, from $175 million to $625 million. The move follows the recent announcement proposing a demerger of the Tabcorp businesses.

The proposed demerger is reported to be based upon separating the wagering and casino businesses and is scheduled to take place in 2011. Taborp chief executive, Elmer Funke Kupper, told The Australian Financial Review that "We're going to see how the business performs to see if the additional capital is required".

Three venues will benefit from the proposed Casino investments; two new gaming sites in Brisbane and the Gold Coast, and the existing casino in Townsville.

The current surge in casino investments is likely to be needed in order to stem the growth of gamblers going to Singapore's new Super casinos and the growth in Australian Online Casinos.

Offshore gaming operators are now enjoying huge growth from Australia as their online casinos offer better odds, sign up bonueses, and progressive pokie jackpots of over $1 million. Gamblers can choose to play their favourite Casino Games such as Roulette, Blackjack and Online Pokies.